BEIJING, Nov. 16 (Xinhua) -- In early November, China's two flagship opening-up events -- the 138th Canton Fair and the eighth China International Import Expo (CIIE) -- concluded with outstanding performances, showcasing the country's firm commitment and strong momentum to open its market further and boost consumption.

The 138th Canton Fair, officially known as the China Import and Export Fair, closed on Nov. 4 in the southern Chinese metropolis of Guangzhou. It saw a new attendance high of over 310,000 overseas buyers and registered on-site intended export transactions worth a total of 25.65 billion U.S. dollars.

Filippo Monti, managing director of one-stop services solution provider TGI Technology Limited, told Xinhua that he has attended the fair's supply and demand matchmaking event multiple times. The fair helps him stay updated on industry trends, meet high-quality suppliers, and discover new technologies and concepts that are emerging in China.

"Here, I have witnessed an ever-opening China, a comprehensive supply chain system, and how Chinese manufacturing drives the upgrading of global industry chains," Monti said.

This momentum was carried on by the eighth CIIE in Shanghai. The expo's business exhibition covered an area of over 367,000 square meters and attracted 4,108 enterprises from 138 countries and regions, breaking records for both scale and number of participants. It recorded 83.49 billion U.S. dollars in one-year intended deals, up 4.4 percent from the previous edition and hitting a new high.

The six-day event featured 461 new products, technologies and services, including 201 global debuts, 65 Asian premieres and 195 China launches, spanning industries such as biomedicine, technical equipment, and green and low-carbon technology.

"The CIIE is much more than an exhibition. It represents a powerful commitment to global collaboration and open markets," said Mohammed Tawil, president and CEO of Boehringer Ingelheim Greater China.

Through years of participation in the CIIE, German pharmaceutical company Boehringer Ingelheim has evolved from an exhibitor into an investor in China, now planning to invest more than 5 billion yuan (about 705.97 million U.S. dollars) in R&D in China over the next five years.

The sequential success of these events underscores their complementary roles as two pillars of China's exhibition economy: the Canton Fair propels "Made in China" globally, while the CIIE introduces worldwide specialties to China, forming a dual-engine strategy that powers the country's high-standard opening-up, as well as the circulation of domestic and international markets.

These robust economic and trade activities are anchored in China's vast and growing consumer base. As the world's second-largest consumer market and import market, China is now a primary export destination for nearly 80 countries and regions. In 2024, China's goods imports totaled 18.4 trillion yuan, and its services imports hit 4.3 trillion yuan, both representing an increase of over 60 percent compared to a decade ago.

In the first three quarters of this year, China's total retail sales of consumer goods grew by 4.5 percent year on year, demonstrating stable growth in the consumer market and continuously attracting exports from various countries to China.

Against this backdrop of sustained market growth, a key Communist Party of China plenum in October adopted the recommendations for formulating the country's 15th Five-Year Plan (2026-2030) for national economic and social development.

The document reaffirms China's commitment to promoting high-standard opening-up and creating new horizons for mutually beneficial cooperation. It also outlines China's objective of "expanding the supply of high-quality consumer goods and services."

This strategic direction finds clear expression in the CIIE, which is growing into a key lever for China's economic strategies of domestic demand expansion, consumption upgrading and high-quality development. To address evolving market trends and unlock new growth drivers, this year's expo introduced new economic areas, including the silver economy, the ice and snow economy, the sports economy, and automotive tourism, alongside new platforms for digital and health consumption.

"China's economy continues to show resilience and vitality, supported by an improving business environment and growing consumer confidence," Lululemon CEO Calvin McDonald said. "We've seen strong policy support -- from the Healthy China 2030 initiative to continued market opening and consumption-driven measures -- that's helping to energize the market."

Additionally, a premium product fair will be held for the first time at the CIIE venue from Dec. 19 to 21 this year. As an extension of the CIIE, the event will help China share its vast market opportunities with the world and better meet consumer demand for quality lifestyle choices.

To facilitate global buyers and boost inbound consumption, Chinese tax and commerce authorities included an on-site tax-refund zone at the Canton Fair venue for the first time this year. Overseas buyers could access one-stop purchase and refund services, and receive instant tax rebates for eligible goods purchased at the fair's cultural creativity store or any of over 800 designated tax-refund shops across the city.

"It's so convenient to shop here," said Nicole Cortes, a Venezuelan buyer attending the fair for the first time. She bought mascot gifts for her friends and completed the entire tax-refund process inside the exhibition hall.